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Amarjothi Spinning Mills standalone net profit rises 156.68% in the September 2016 quarter
Oct 26,2016

Net profit of Amarjothi Spinning Mills rose 156.68% to Rs 6.34 crore in the quarter ended September 2016 as against Rs 2.47 crore during the previous quarter ended September 2015. Sales rose 3.88% to Rs 53.82 crore in the quarter ended September 2016 as against Rs 51.81 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales53.8251.81 4 OPM %24.6717.97 - PBDT11.026.49 70 PBT7.933.10 156 NP6.342.47 157

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Mac Charles (India) consolidated net profit rises 103.01% in the September 2016 quarter
Oct 26,2016

Net profit of Mac Charles (India) rose 103.01% to Rs 10.11 crore in the quarter ended September 2016 as against Rs 4.98 crore during the previous quarter ended September 2015. Sales rose 27.55% to Rs 22.92 crore in the quarter ended September 2016 as against Rs 17.97 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales22.9217.97 28 OPM %60.2548.41 - PBDT13.818.69 59 PBT12.947.19 80 NP10.114.98 103

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MPS standalone net profit rises 7.89% in the September 2016 quarter
Oct 26,2016

Net profit of MPS rose 7.89% to Rs 20.09 crore in the quarter ended September 2016 as against Rs 18.62 crore during the previous quarter ended September 2015. Sales rose 1.24% to Rs 57.14 crore in the quarter ended September 2016 as against Rs 56.44 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales57.1456.44 1 OPM %40.3639.53 - PBDT31.4429.24 8 PBT30.3728.33 7 NP20.0918.62 8

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Tavernier Resources standalone net profit declines 96.71% in the September 2016 quarter
Oct 26,2016

Net profit of Tavernier Resources declined 96.71% to Rs 0.07 crore in the quarter ended September 2016 as against Rs 2.13 crore during the previous quarter ended September 2015. Sales reported to Rs 0.90 crore in the quarter ended September 2016. There were no Sales reported during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.900 0 OPM %-37.780 - PBDT0.122.25 -95 PBT0.102.23 -96 NP0.072.13 -97

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Mac Charles (India) standalone net profit rises 104.94% in the September 2016 quarter
Oct 26,2016

Net profit of Mac Charles (India) rose 104.94% to Rs 9.96 crore in the quarter ended September 2016 as against Rs 4.86 crore during the previous quarter ended September 2015. Sales rose 27.55% to Rs 22.92 crore in the quarter ended September 2016 as against Rs 17.97 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales22.9217.97 28 OPM %60.2548.41 - PBDT13.818.69 59 PBT12.947.19 80 NP9.964.86 105

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Austin Engineering Company reports consolidated net loss of Rs 1.24 crore in the September 2016 quarter
Oct 26,2016

Net Loss of Austin Engineering Company reported to Rs 1.24 crore in the quarter ended September 2016 as against net loss of Rs 0.52 crore during the previous quarter ended September 2015. Sales declined 12.79% to Rs 17.38 crore in the quarter ended September 2016 as against Rs 19.93 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales17.3819.93 -13 OPM %-4.95-1.40 - PBDT-1.05-0.20 -425 PBT-1.31-0.53 -147 NP-1.24-0.52 -138

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Jubilant FoodWorks tumbles after weak Q2 numbers
Oct 26,2016

The result was announced during trading hours today, 26 October 2016.

Meanwhile, the BSE Sensex was down 218.10 points, or 0.78%, to 27,873.32.

On BSE, so far 2.61 lakh shares were traded in the counter, compared with average daily volume of 64,502 shares in the past one quarter. The stock hit a high of Rs 1,185 and a low of Rs 1,063 so far during the day. The stock hit a 52-week high of Rs 1,572.45 on 1 December 2015. The stock hit a 52-week low of Rs 896.65 on 12 February 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, rising 19.34% compared with 0.72% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 3.01% as against Sensexs 0.24% rise.

The mid-cap Indias largest food service company has equity capital of Rs 65.95 crore. Face value per share is Rs 10.

Jubilant FoodWorks said Dominos Pizza chain reported same store growth (SSG) of 4.2% in Q2 September 2016 compared with 3.2% in Q2 September 2015. SSG refers to the year-over-year growth in sales for restaurants in operation for 2 whole years.

Jubilant FoodWorks said revenues in Q2 September 2016 showed improvement on the back of enhanced volumes and positive same store sales growth driven by network extension into existing and new cities and towns; menu additions such as Burger Pizza and Pizza Mania Extremes; targeted promotional measures; and benefit of extensive online/mobile presence.

Jubilant FoodWorks is part of Jubilant Bhartia group and Indias largest food servicecompany, with a network of 1085 Dominos Pizza restaurants across 251 cities (as of 26 October 2016). The company & its subsidiary have the exclusive rights to develop and operate Dominos Pizza brand in India, Sri Lanka, Bangladesh and Nepal. At present it operates in India and Sri Lanka. The company also has exclusive rights for developing and operating Dunkin Donuts restaurants for India and has launched 73 Dunkin Donuts restaurants across 23 cities in India (as of 26 October 2016).

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Navneet Education plans to acquire Enclyclopedia Britannica (India)
Oct 26,2016

Navneet Education will acquire 17001063 equity shares aggregating to 100% of equity share capital of Enclyclopedia Britannica (India) for consideration of Rs 85-90 crore, subject to statutory approval, if any.

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Bharti Airtel launches affordable 10 day validity packs for international roaming
Oct 26,2016

Bharti Airtel has launched an affordable 10 day validity pack for international roaming. The 10 day roaming pack starts at Rs 1199 (USD 19) for Singapore and Thailand and is available at Rs 2999 (USD 45) for UK, US and Canada. These offer 2GB data, unlimited free incoming calls, 250 minutes of free call to India and 100 free SMSes per day. Post exhaustion of the pack benefits, international roaming data will be available for just Rs3/MB and outgoing calls to India and local call to any network will be charged at just Rs 3/min.

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Volumes jump at EIH counter
Oct 26,2016

EIH clocked volume of 17.94 lakh shares by 13:51 IST on BSE, a 152.88-times surge over two-week average daily volume of 12,000 shares. The stock rose 4.39% to Rs 114.05.

Solar Industries India notched up volume of 1.51 lakh shares, a 65.11-fold surge over two-week average daily volume of 2,000 shares. The stock rose 1.24% to Rs 655.

Max India saw volume of 10.76 lakh shares, a 41.69-fold surge over two-week average daily volume of 26,000 shares. The stock rose 0.68% to Rs 141.40.

OCL India clocked volume of 83,000 shares, a 31.13-fold surge over two-week average daily volume of 3,000 shares. The stock rose 4.35% to Rs 936.25

Astral Poly Technik saw volume of 1.60 lakh shares, a 17.17-fold rise over two-week average daily volume of 9,000 shares. The stock rose 0.06% to Rs 434.

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Shriram Transport Finance Company announces resignation of director
Oct 26,2016

Shriram Transport Finance Company announced that Jasmit Singh Gujral has also resigned from directorship of the Company with effect from close of business hours on 25 October 2016.

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PTC India announces cessation of nominee director
Oct 26,2016

PTC India announced that Hemant Bhargava, Director, nominee Director of LIC of India has ceased to be a Director of PTC India w.e.f 20 October 2016.

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Middle East, North Africa Region Urged to Stay on Course with Reforms
Oct 26,2016

The slump in oil prices and ongoing conflicts continue to weigh on growth prospects of the Middle East, North Africa, Afghanistan and Pakistan, said the IMF in its latest regional assessment.

With these challenges expected to persist, the IMF said that the countries in the region needed to continue the progress they have already made toward strengthening their fiscal balances, and instituting structural reforms, which would help to ensure inclusive and sustainable growth.

The IMFs Regional Economic Outlook for the Middle East and Central Asia, projects that growth for the region this year will be a modest 3n++ percent, with little improvement expected in 2017. Sluggish economic growth is hurting progress in improving living standards. Structural transformations towards more dynamic private-sector driven economies, plans for which are being formulated in a number of countries, are needed to boost growth and create private sector jobs, the report said.

n++The countries of the Middle East and North Africa region are still facing two of the worlds most pressing economic and geopolitical issues: the slump in oil prices and the intensification of conflicts,n++ said IMF Middle East and Central Asia Department Director Masood Ahmed at the reports launch in Dubai. n++To their credit, these countries have made progress in dealing with these challenges.n++

Despite staging a recovery over recent months to reach more than $50 a barrel, oil pricesn++the key driver of growth for the regions oil exportersn++are projected to remain low over the coming years. The IMF projects prices to barely reach $60 a barrel by 2021, far removed from the highs of more than $100 a barrel just two years ago.

Conflicts, meanwhile, are continuing to cause a severe humanitarian crisis in several of the regions countriesn++with higher numbers of refugees than at any other time since World War IIn++as well as disruption to economic activity and confidence across the wider region.

Modest outlook for oil exporters and oil importers

In the oil-exporting Gulf Cooperation Council (GCC), the IMF projects non-oil growth to be 1.8 percent in 2016 and 3.1 percent in 2017, much lower than the 7 percent average between 2000 and 2014, owing to the dampening effect from fiscal consolidations and a broader weakening of private sector confidence in the face of lower oil prices.

Non-oil growth outside the GCC is likely to be almost non-existent this year due to the conflicts in Iraq, Libya, and Yemen. In Iran, oil production has picked up strongly yet a broader growth dividend from the easing of the sanctions is materializing only slowly as international companies remain cautious and domestic reforms are proceeding gradually.

For the regions oil importers, spillovers from slower growth in the GCC and conflictsn++as well as deep-rooted domestic structural impedimentsn++are weighing on growth. These economies are projected to expand by 3.6 percent in 2016 and 4.2 percent in 2017.

Over the medium term, growth will be too low to improve living standards significantly or cut into high unemployment, which stands above 10 percent for the general population, and as high as 25 percent for young people.

Adjusting to cheaper oil

The entrenched nature of low oil prices and conflicts underlined the need for the regions countries to continue several crucial policy adjustments, the report emphasized.

n++Oil exporters are facing the difficult task of growing their economies in a climate of lower budget revenues and spending cuts,n++ Ahmed said. n++Therefore, the challenge now and into the future will be to find alternative sources of revenues and economic growth to maintain the level of prosperity many of them have become accustomed to,n++ he emphasized.

And for the oil importers, the key challenge is boosting job creation via more dynamic private sectors, he added.

The report highlights the significant progress many countries had made over recent months in adjusting to this new economic environment, particularly in the area of spending and new revenues. For example, oil exporters and importers alike have started to rationalize government spending and have cut back on their expensive general subsidy programs, for petrol, electricity, gas, and water, which have tended to benefit mostly the rich.

Despite these improvements, prices for these utilities are still well below international standards, so policymakers could go further in reforming their energy pricing frameworks, the report noted.

Some countries have also started to find cost savings in their public wage bills. For example, Saudi Arabia recently announced a number of measures to trim its government wage bill, including by reducing allowances and limiting overtime. The GCC is also planning the introduction of a value-added tax.

n++These are all welcome moves and underline how committed these countries are to adjusting to the current difficult economic environment,n++ Ahmed said.

However, he added that over the next 12 months, and well into the future, more needs to be done.

A key challenge would be not only boosting growth while tightening budget expenditures, but also maximizing the returns from what room countries have available for public spending.

Investment in infrastructure, education, and health care would continue to be three key areas where public expenditures could be most effective in building sustainable, long-term growth, Ahmed said.

Diversifying drivers of growth

However, more broadly, the report recommends that given the environment of lower oil prices, countries need to make greater progress toward more diversified, dynamic, private-sector driven economies.

Many countries have announced such plans, including Saudi Arabia whose Vision 2030 emphasizes private sector development, commits to a balanced budget in five years, and envisages a partial privatization of ARAMCO, the worlds largest oil and gas company.

n++For oil exporters, this will include relying less on oil revenues while creating job opportunities for new labor market entrants in the private, rather than public, sector, while for oil importers, this will mean relying less on remittances. But, for both these groups of countries the goal must be an economic model that depends less on state spending and more on the private sector,n++ Ahmed said.

n++The economic transformations that are made now will have the potential to provide resilient and inclusive growth for generations to come,n++ he added.

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Kopran intimates of disruption of operations at its facility in Khopoli
Oct 26,2016

Kopran announced that the production at the Companys manufacturing facility at Khopoli, Village Savroli, Taluka - Khalapur, District Raigad 410202 for Finished Dosage Forms has been affected, due to a sudden illegal stoppage of work by the unionized workers without any notice.

The Management does not expect any material impact on the financial performance of the Company.

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Union Bank of India announces resignation of director
Oct 26,2016

Union Bank of India announced that Ministry of Finance, Government of India vide letter dated 26 October 2016 has informed that resignation of Jag Mohan Sharma, Chartered Accountant Director nominated by Central Government under section 9(3)(g) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 has been accepted by the Central Government w.e.f. 05 October 2016.

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